Best Buy to exit Mexico on Covid-19 impact

Wednesday 25 November 2020 | 11:12 CET | News
US electronics retailer Best Buy confirmed that it will be closing all its stores in Mexico after experiencing several months of weaker sales due to the Covid-19 pandemic. Business daily El Financiero reported that Best Buy has already shut down 8 stores in Mexico and will close the remaining 41 in the country on 31 December. "The effects of the pandemic have been deep, and it's not viable to keep our business in Mexico," confirmed Best Buy Mexico chief Fernando Silva without clarifying how many jobs would be affected.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Best Buy
Countries: Mexico
::: add a comment
This article is part of dossier


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Best Buy quarterly revenues up over 20% on demand for computers, home entertainment

Published 25 Nov 2020 09:25 CET | United States
US retailer Best Buy reported revenues for its fiscal third quarter to October up 21 percent year-on-year to USD 11.85 billion, ...

Best Buy to craft new tech strategy with Accenture

Published 19 Oct 2020 09:06 CET | United States
US retailer Best Buy has signed a cooperation deal with Accenture advance Best Buy's tech strategy, delivery and operations, and ...

Best Buy Q2 sales up 4% as shops re-open, up 20% in first three weeks of Q3

Published 25 Aug 2020 13:56 CET | United States
US retailer Best Buy has reported enterprise revenue growth of almost 4 percent in its second quarter, with online sales up more ...

Best Buy offers staff pay increase as quarterly sales grow 2.5%

Published 22 Jul 2020 09:40 CET | United States
US retailer Best Buy said sales were up 2.5 percent year-on-year in its Q2 to 18 July. It also announced plans to increase all ...

Best Buy sales fall 6% in April quarter

Published 21 May 2020 15:40 CET | United States
US retailer Best Buy reported comparable sales for its fiscal first quarter to 04 May down 5.7 percent year-on-year in its home ...

Best Buy says sales down 30% since 21 March

Published 15 Apr 2020 16:45 CET | United States
US retailer Best Buy announced plans to start furloughing staff and cutting wages to deal with reduced sales. The company said ...

Best Buy tops guidance with 2.1% comparable FY sales growth

Published 27 Feb 2020 15:49 CET | United States
US retailer Best Buy reported results ahead of guidance for its fiscal year to January, with comparable sales growing 2.1 ...